FG bars Emirates Airlines from operating in Nigeria

FG bars Emirates Airlines from operating in Nigeria The Federal Government has barred Emirates Airlines from operating in Nigeria. According to the Minister of Aviation, Hadi Sirika, the ban will take effect from Monday, September 21, 2020. The tweet read: “The PTF sub-committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban. The meeting progressed well.  Emirates...... more

Nigerians flay FG's new self-certification rule for bank account holders

Nigerians flay FG's new self-certification rule for bank account holders The Muhammadu Buhari government came under heavy criticism on Thursday, following a notice, enjoining Nigerians with bank accounts to do “self-certification”. According to the notice, which came from Federal Inland Revenue Service ” all account holders in Financial Institutions (Banks, Insurance Companies, etc) are required to obtain, complete and submit Self...... more

Naira plunges further, exchanges for N460

Naira plunges further, exchanges for N460 The naira continued its downward trend, as it exchanged for the dollars at N460 in the parallel market on Tuesday, despite the resumption of forex sales to the Bureau de Change Operators. The naira had earlier dropped from N480/$ following the Central Bank of Nigeria’s announcement to resume forex sales to...... more

NCAA approves Lagos, Abuja Airports to resume International Flights September 5

NCAA approves Lagos, Abuja Airports to resume International Flights September 5 * Other airports would be gradually reopened The Nigerian Civil Aviation Authority has confirmed the Nnamdi Azikwe International Airport, Abuja, and Murtala Mohammed International Airport, Lagos, as the two airports allowed to resume international flight operations as from September 5, 2020. NCAA made this known in a letter with ref NCAA/DG/AIR/11/16/255...... more

NLC, MAN, others reject electricity tariff hike

NLC, MAN, others reject electricity tariff hike Electricity consumers, labour unions and key stakeholders in the economy on Tuesday kicked against increase in electricity tariff implemented by power distribution companies across the country on Tuesday.  Those that spoke on the tariff adjustments included the Nigeria Labour Congress which vowed to resist the increase, the Manufacturers Association of Nigeria...... more

15 Lucrative businesses one can own as a side hustle

15 Lucrative businesses one can own as a side hustle Today, many people are looking to leave the daily “9-God-knows-when” grind for something that feeds their passion, or at best, something that supplements income from their regular jobs. While working on your side business idea is without a doubt a risk, it also requires way more sacrifice. However, once you get it right, you will be making your way majestically into...... more

Early morning fire razes 14 shops, 16 kiosks in Lagos market

Early morning fire razes 14 shops, 16 kiosks in Lagos market About 14 shops and 16 kiosks have been razed by an early morning fire at the Adeniji Adele Market in Lagos Island. Confirming the unfortunate incident, the Lagos State Emergency Management Agency (LASEMA), said the fire started at about 3am on Sunday as a result of electrical malfunction in one of...... more

NNPC surveillance guards protest non-payment of 10-month salary arrears in Enugu

NNPC surveillance guards protest non-payment of 10-month salary arrears in Enugu Again,  the Nigeria National Petroleum Corporation (NNPC) Pipeline Surveillance Contractors Monday protested non-payment of 10-months salary arrears by UTM Offshore Limited, NNPC contractor in Enugu. The Security Guards Contractors who keep watch on  petroleum pipelines from Ishiagu Ebonyi State to Emene in Enugu State on Monday carried placards with various inscriptions as...... more

CAC generated over N56bn in 3 years, remitted only N169m to FG

CAC generated over N56bn in 3 years, remitted only N169m to FG The Corporate Affairs Commission generated over N56bn in three years but only remitted just N169m to the Federal Government’s coffers.‎The revelation emerged on Friday, during an interactive session on the 2021 to 2013 Medium Term Expenditure Framework and Fiscal Strategy Paper organised by the House of Representatives Joint Committee on Finance, Appropriation, National...... more

CBN to unify exchange rates, pegs naira at 379/$

CBN to unify exchange rates, pegs naira at 379/$        The Central Bank of Nigeria on Saturday officially changed the exchange rate of the naira to the dollar from N361 to N379 on its website. The apex bank had earlier expressed its decision to unify the exchange rates in the country as forex scarcity persisted. It was however yet to announce...... more

Power generation hits peak at 5,377MW

Power generation hits peak at 5,377MW The power sector has recorded a peak generation of 5,377 megawatts, the Transmission Company of Nigeria has said. It disclosed this in a tweet via its official Twitter handle and stated that the new record was achieved on August 1, 2020. TCN said the new record surpassed the previous peak generation...... more

SERAP drags Buhari, Malami to court over govt loans

SERAP drags Buhari, Malami to court over govt loans Federal High Court, Abuja to order President Muhammadu Buhari to publish details of loans that have been obtained by the government since May 29, 2015. These will also including the interest rate, the total amount of debts that have so far been incurred by this government, as well as details of...... more

Viable X: Nigerian Commodity Trading Platform hits N100 million milestone in less than 2 months

Viable X: Nigerian Commodity Trading Platform hits N100 million milestone in less than 2 months The Agriculture commodity market gets a much-needed bolster it needs with the on-boarding of over 6,000 farmers across Nigeria on Viable X, a revolutionary agribusiness platform that seeks to achieve financial inclusivity and economic growth through the sector. This comes just as the Federal Government unveils a new sectorial policy campaign...... more

Viable X: Raising Millionaires through Agribusiness

Viable X: Raising Millionaires through Agribusiness As the effects of the global pandemic known as coronavirus continue to hit hard on the world economy, a young Nigerian has proffered a better way forward to salvage the situation and get the ailing economy running again. Adama J Adama is currently making a bold statement with his Viable X,...... more

Bread price increase looms as wheat cost rises 33%

Bread price increase looms as wheat cost rises 33% The price of Nigerian grown wheat has risen by 33 per cent due to the low production volumes of the product. The rise in the cost of wheat may lead to increase in the prices of bread and other pastries. Wheat is the major raw material for flour used in baking. It...... more

First Electric Car Manufactured in Nigeria, taken on 300km Test Drive from Lagos To Benin

First Electric Car Manufactured in Nigeria, taken on 300km Test Drive from Lagos To Benin   A Nigerian company has finally made the country proud by manufacturing the country's first electric car. An indigenous company called JET Motor Company has manufactured the nation’s first electric vehicle called JET EV. According to Naija Stories on Twitter on Wednesday, July 22, the prototype of the machine was taken...... more

Umuchinemere disburses N519m loans in 6mths

Umuchinemere disburses N519m loans in 6mths In spite of the challenges induced by the COVID-19 pandemic, Umuchinemere Pro-credit Micro Finance Bank (UPMFB) disbursed N518.8 million loans to empower a total of 2,356 active poor in Enugu State in the first half of the year (H1’2020). A breakdown of the gender distribution of the beneficiaries shows that 1,007...... more

Peace Mass Transit resumes, with only 50% carriage at no extra cost to commuters

Peace Mass Transit resumes, with only 50% carriage at no extra cost to commuters Peace Mass Transit (PMT) Limited, is gearing up for resumption of operations on July 1st, 2020, following the relaxation of interstate lockdown announced by the Federal Government on Monday. The company was the first to suspend operations early March at the escalation of the Covid-19 pandemic across the globe, and consequent...... more

Innoson confirms winning 11 oil wells in Sierra Leone

Innoson confirms winning 11 oil wells in Sierra Leone IVM Innoson Group of Companies has confirmed the award of 11 offshore oil wells to the newest member of the conglomerate, Innoson Oil & Gas Limited, by the government of Sierra Leone during a highly competitive bid process that featured other companies from different countries, including Nigeria. A close aide of...... more

Jaiz bank sells forex to SMEs

Jaiz bank sells forex to SMEs Jaiz Bank Plc, has resumed selling of foreign exchange to operators of Small and Middle Enterprises (SMEs) to open up businesses and boost the nation’s economy amidst the Covid-19 pandemic. The bank noted that “while the pandemic is being fought with lockdown and economies are opening up, we are committed to...... more

IMF may approve Nigeria’s $3.4bn loan today

IMF may approve Nigeria’s $3.4bn loan today There are indications that the Executive Board of the International Monetary Fund may approve the $3.4bn loan sought by Nigeria on Tuesday (today). Although the Minister of Finance, Budget and National Planning, Zainab Ahmed, had on April 6, while announcing that Nigeria had applied for the loan, said the funds were...... more

Suspected killer of Funke Olakunrin, two others test positive for COVID-19

Suspected killer of Funke Olakunrin, two others test positive for COVID-19 Ondo State has reported three new positive cases of coronavirus (COVID-19), bringing the total number of infections in the state to seven. The state governor, Oluwarotimi Akeredolu, announced this in a series of tweets on Sunday. He disclosed that one of the new cases was one a suspect arraigned in a...... more

Electricity tariff to increase on Wednesday

Electricity tariff to increase on Wednesday Nigerians will from Wednesday, April 1, 2020, pay more for electricity. The Nigerian Electricity Regulatory Commission had disclosed this in its December 2019 Minor Review of Multi-Year Tariff Order 2015 and Minimum Remittance Order for the Year 2020. However, investigations revealed that the decision to increase tariff had not yet been...... more

COVID-19: CBN suspends cheques clearing instruments

COVID-19: CBN suspends cheques clearing instruments    The Central Bank of Nigeria on Monday suspended indefinitely, the clearing of cheques instruments in the Nigerian clearing system The apex bank said this in a circular released on Monday to all Deposit Money Banks and the Nigeria InterBank Settlement System. The circular with reference number BKS/DIR/GEN/ClR/O7/002 was signed by the...... more

Tragedy: Anambra Mopol commander, wife die in auto crash, son, daughter survive

Tragedy: Anambra Mopol commander, wife die in auto crash, son, daughter survive The Commander of Onitsha MOPOL 54 in Anambra State, Abdulahi Ibrahim, an Assistant Commissioner of Police and his wife have died in an auto crash. The two died on Friday at Okene bypass in Kogi State. Their daughter and son however survived the crash, and were rushed to the hospital where...... more

COVID-19: UK returnee staff of Fidelity Bank tests positive

COVID-19: UK returnee staff of Fidelity Bank tests positive Fidelity Bank on Thursday revealed that one of its staff who returned from a holiday in the United Kingdom has tested positive for coronavirus. The bank noted that the individual had embarked on self-isolation upon his arrival in the country in line with its policy that mandates staff/family members who have...... more

CBN devalues naira as analysts appraise market situation

CBN devalues naira as analysts appraise market situation As the Coronavirus, COVID-19, pandemic continues to take a toll on the Nigerian economy, the Central Bank of Nigeria, CBN, has technically devalued the naira to reflect market conditions as analysts and market operators said they are not surprised. Information gathered from Investor/Exporter, I&E, window revealed that though the closing price...... more

Bill to ban plastics production in Nigeria ready soon

Bill to ban plastics production in Nigeria ready soon THE National Assembly and the federal ministry of environment are putting the finishing touches to a bill meant to prohibit the production of plastics, which pollute the environment. Senator Tolulope Odebiyi, member of the Senate Committee on Marine Transport, disclosed this in Lagos at the launch of the Maritime Action Plan...... more

Dangote invests N63bn in Enugu-based automaker, buys 3,500 trucks

Dangote invests N63bn in Enugu-based automaker, buys 3,500 trucks Dangote Group has entered into a long-term agreement with an Enugu-based automaker, Transit Support Services Limited, for the supply of Shacman trucks being assembled at the Anambra Motor Manufacturing Company Limited’s factory in Emene, Enugu. Already, the group has purchased 3,500 trucks from the automaker worth N63bn, according to the Managing...... more

Nigerians spent N509.8bn on imported used vehicles in nine months

Nigerians spent N509.8bn on imported used vehicles in nine months Within a nine-month period covering January to September this year, Nigerians spent about N509.8bn importing used vehicles into the country. The figure was arrived at based on  an analysis of the foreign trade in good statistics obtained from the National Bureau of Statistics. The cars were imported into Nigeria from the...... more

 

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Julius Agwu - Crazy Interview Demands